The chief financial regulator in Italy, the Commissione Nazionale per le Società e la Borsa (CONSOB), has issued a cease and desist order to SolutionsCM Ltd. over an alleged breach of Italian securities laws.

Three crypto companies, Richmond Investing, Crypton Ltd. and Eagle Bit Trade, along with Alessandro Brizzi, who represents Cryptoforce Ltd., were found to have been not authorized to promote their products in Italy.

Investors of Bitgrail have suffered yet another setback, following announcements that the Italian courts have seized the assets of the embattled cryptocurrency exchange as the firm’s bankruptcy proceedings continue.